Welcome to the May edition of the Merchant Advisor!
It’s already well into spring and the conclusion of the first fiscal quarter, and we can barely believe how quickly time seems to have passed since our last newsletter. Time is an interesting topic when it comes to the alternative lending and financial industry: as new service providers emerge in the market, the conversation often turns to the speed and efficiency with which they can process funding requests for clients. Algorithmic systems and automation are often brought up as examples of progress in this regard.
Merchant Advance is working hard to develop systems that will help our customer experience be even simpler and indeed quicker (especially for our existing clients) – however, as it was recently put during a staff get-together to mark the end of a successful quarter, speed is but one facet of the process that goes into making the Merchant Advance model what it is.
Think of your own small business: though you may be online-optimized, mobile-friendly and driven to find ways to engage with your customers in real time, what is it that draws them in and keeps them coming back? It’s the quality of the service and the distinct personality of your business that adds value and makes you into you. This is what you’re putting time into creating: trust, recognition and impression of quality that will last even if your goals involve movement in a new direction or expansion into a different market. That kind of impression isn’t built in a day.
We’re taking the time to get to know each Merchant Advance client as an individual business owner with specific financial needs. From the first application for an advance or business loan, all the way to creating relationships with Canadian small businesses that have lasted since our inception in 2010.